Cayman Used Prices
Discussion
I am looking at a 718 as a second car and the plan was to take a base model with PDK and minimal options e.g. front and reverse camera.
Having looked at 3-year-old cars, they are going for £40k on the OPC website.
A lightly specced new model is going to come in at £48 - 49k.
I will likely keep the car for 5 years, and it occurred to me that there was no particular advantage in buying used given the price differential.
Am I missing something or reading the market incorrectly?
Thanks in advance. I did look at the 981 but the concern is that you are still splashing out £30 - £35k on cars that are still 7-8 years old. Even if they are well pampered, they are at an age where things will need replacing. What you gain on diminished depreciation you may lose on repairs\maintenance.
Thanks in anticipation.
Having looked at 3-year-old cars, they are going for £40k on the OPC website.
A lightly specced new model is going to come in at £48 - 49k.
I will likely keep the car for 5 years, and it occurred to me that there was no particular advantage in buying used given the price differential.
Am I missing something or reading the market incorrectly?
Thanks in advance. I did look at the 981 but the concern is that you are still splashing out £30 - £35k on cars that are still 7-8 years old. Even if they are well pampered, they are at an age where things will need replacing. What you gain on diminished depreciation you may lose on repairs\maintenance.
Thanks in anticipation.
I think right now, with supply limited for various reasons, the prioce differential isn't that great. When supply improves will the market shift? One would assume so.
I think unless you need a car right now, I'd be tempted to wait until this winter and pick up a lightly used car in the off-season for a better price.
I think unless you need a car right now, I'd be tempted to wait until this winter and pick up a lightly used car in the off-season for a better price.
Have you thought about buying private? If you could find a well looked after car with remaining Porsche warranty, it could make a good car with a decent saving. Warranties are transferable for private transactions.
An OPC adds circa £8k onto the price of a car for warranty, profit and paint etc, so they probably bought your £40k car for around £32k, which looks more amenable.
Otherwise go new, you can then spec the car as you wish, base 2.0T with few options and standard paint would be a decent car for the summer if you can get one in time.....
An OPC adds circa £8k onto the price of a car for warranty, profit and paint etc, so they probably bought your £40k car for around £32k, which looks more amenable.
Otherwise go new, you can then spec the car as you wish, base 2.0T with few options and standard paint would be a decent car for the summer if you can get one in time.....
Holgate86 said:
Have you thought about buying private? If you could find a well looked after car with remaining Porsche warranty, it could make a good car with a decent saving. Warranties are transferable for private transactions.
An OPC adds circa £8k onto the price of a car for warranty, profit and paint etc, so they probably bought your £40k car for around £32k, which looks more amenable.
Otherwise go new, you can then spec the car as you wish, base 2.0T with few options and standard paint would be a decent car for the summer if you can get one in time.....
What I was going to say, OPC's add a good £££ on top to cover the above, so your 40K car at an OPC is probably 30K at WBAC.An OPC adds circa £8k onto the price of a car for warranty, profit and paint etc, so they probably bought your £40k car for around £32k, which looks more amenable.
Otherwise go new, you can then spec the car as you wish, base 2.0T with few options and standard paint would be a decent car for the summer if you can get one in time.....
718's will in my opinion will continue to plummet in value as they're not desirable within Porsche circles, so factor that in also.
I've recently sold my 6 year old 981 for more than 2nd hand 718's to put that into perspective.
I don't disagree with the sentiment of the comments above.
The problem is that the cheapest non OPC, PDK Cayman on autotrader is £38k. The cheapest private seller is £38,500!
The cheapest OPC car is just under £40k!
If I could find a £30k 718 privately I would purchase it tomorrow.
All of this would tend to suggest that market is nuts. But waiting for a cheap Porsche is a bit like waiting for Godot in my experience...
The problem is that the cheapest non OPC, PDK Cayman on autotrader is £38k. The cheapest private seller is £38,500!
The cheapest OPC car is just under £40k!
If I could find a £30k 718 privately I would purchase it tomorrow.
All of this would tend to suggest that market is nuts. But waiting for a cheap Porsche is a bit like waiting for Godot in my experience...
If the lead time on the new car order is acceptable to you I would order a new one. You may even get a slight discount but don't bank on it.
You will be able to spec it and run it in exactly how you want which is always a big plus.
Having regard to the small difference between new and used prices a used Cayman will depreciate only slightly less than a new one but with all the disadvantages of buying a used car.
You will be able to spec it and run it in exactly how you want which is always a big plus.
Having regard to the small difference between new and used prices a used Cayman will depreciate only slightly less than a new one but with all the disadvantages of buying a used car.
av185 said:
If the lead time on the new car order is acceptable to you I would order a new one. You may even get a slight discount but don't bank on it.
You will be able to spec it and run it in exactly how you want which is always a big plus.
Having regard to the small difference between new and used prices a used Cayman will depreciate only slightly less than a new one but with all the disadvantages of buying a used car.
I think it is the only realistic option. 2020 cars are trading over list as far as I can tell. You will be able to spec it and run it in exactly how you want which is always a big plus.
Having regard to the small difference between new and used prices a used Cayman will depreciate only slightly less than a new one but with all the disadvantages of buying a used car.
Great cars, peak market.
Prices may well fall in the autumn but the best driving conditions are coming up and who wants to miss that.
Some have been predicting a price crash due to Covid on another thread for over a year now and it hasn't happened yet - and probably won't for these low volume cars. Personally I'd just bite the bullet and buy it, life's too short. Save speculating and investing for the FTSE or Nasdaq (or maybe bitcoin ...
)
YMMV, of course...
Prices may well fall in the autumn but the best driving conditions are coming up and who wants to miss that.
Some have been predicting a price crash due to Covid on another thread for over a year now and it hasn't happened yet - and probably won't for these low volume cars. Personally I'd just bite the bullet and buy it, life's too short. Save speculating and investing for the FTSE or Nasdaq (or maybe bitcoin ...
)YMMV, of course...
Schmed said:
Great cars, peak market.
Prices may well fall in the autumn but the best driving conditions are coming up and who wants to miss that.
Some have been predicting a price crash due to Covid on another thread for over a year now and it hasn't happened yet - and probably won't for these low volume cars. Personally I'd just bite the bullet and buy it, life's too short. Save speculating and investing for the FTSE or Nasdaq (or maybe bitcoin ...)
YMMV, of course...
The Porsche finance calculator projects value at c. £24k after 3 years and 36k miles. £24k would not buy you a 10 year old car! Would be surprised if an OPC did not offer at least £32k for one in 3 years time. Prices may well fall in the autumn but the best driving conditions are coming up and who wants to miss that.
Some have been predicting a price crash due to Covid on another thread for over a year now and it hasn't happened yet - and probably won't for these low volume cars. Personally I'd just bite the bullet and buy it, life's too short. Save speculating and investing for the FTSE or Nasdaq (or maybe bitcoin ...
)YMMV, of course...
Caymans, of all models, appear to have strengthened in price significantly of late - maybe its because its Spring, but strangely the gap between Caymans and Boxsters appears to have widened, whereas you'd expect Boxsters to be more seasonal.
A few months ago, there were several 718s for £32k or less (although I can't recall if they were PDK). I'm looking for a 987.2 and they have increased several thousand. As you've seen, there appears to be very little price differential between sellers. I nearly posted on the 'does anyone buy privately' thread, and I was going to say that private Porsche sellers seem to price their cars very, very closely to (non-OPC) dealers.
A few months ago, there were several 718s for £32k or less (although I can't recall if they were PDK). I'm looking for a 987.2 and they have increased several thousand. As you've seen, there appears to be very little price differential between sellers. I nearly posted on the 'does anyone buy privately' thread, and I was going to say that private Porsche sellers seem to price their cars very, very closely to (non-OPC) dealers.
Cayman's have been undervalued for a long time really and they have come out of the shadow of the 911. I'd say there are more people new to the brand now with Covid and YOLO mentality kicking in. Bet they are more open minded and actually drive both and make a decision. They also don't care about 4cyl versus 6cyl....they just drive the cars and decide.
I'll just add that at the peak fear of Covid around April '20 I saw a nice blue 718T, nice wheels, a few years old with 9k miles sell for £28k (or even less as that was the asking price). Those days are well gone...
I'll just add that at the peak fear of Covid around April '20 I saw a nice blue 718T, nice wheels, a few years old with 9k miles sell for £28k (or even less as that was the asking price). Those days are well gone...
Andyoz said:
Cayman's have been undervalued for a long time really and they have come out of the shadow of the 911. I'd say there are more people new to the brand now with Covid and YOLO mentality kicking in. Bet they are more open minded and actually drive both and make a decision. They also don't care about 4cyl versus 6cyl....they just drive the cars and decide.
I'll just add that at the peak fear of Covid around April '20 I saw a nice blue 718T, nice wheels, a few years old with 9k miles sell for £28k (or even less as that was the asking price). Those days are well gone...
True.I'll just add that at the peak fear of Covid around April '20 I saw a nice blue 718T, nice wheels, a few years old with 9k miles sell for £28k (or even less as that was the asking price). Those days are well gone...
And with obvious parts supply issues amongst other things severely affecting new car production, easing of lockdowns, folks spending power, better weather and imminent track season prices of used Porsches along with most other brands are set to rise again in a repeat of 2020.
av185 said:
Andyoz said:
Cayman's have been undervalued for a long time really and they have come out of the shadow of the 911. I'd say there are more people new to the brand now with Covid and YOLO mentality kicking in. Bet they are more open minded and actually drive both and make a decision. They also don't care about 4cyl versus 6cyl....they just drive the cars and decide.
I'll just add that at the peak fear of Covid around April '20 I saw a nice blue 718T, nice wheels, a few years old with 9k miles sell for £28k (or even less as that was the asking price). Those days are well gone...
True.I'll just add that at the peak fear of Covid around April '20 I saw a nice blue 718T, nice wheels, a few years old with 9k miles sell for £28k (or even less as that was the asking price). Those days are well gone...
And with obvious parts supply issues amongst other things severely affecting new car production, easing of lockdowns, folks spending power, better weather and imminent track season prices of used Porsches along with most other brands are set to rise again in a repeat of 2020.
It’s pretty sporty pricing, of course - but one certainty is that the approved used one will depreciate less than the new one - if that matters.
Prices for fun cars on the used market have risen notably over the last 8 months and are firming up strongly for a post-lockdown summer, it would seem.
I began my 981CS search last summer and Cridfords, as a well-know example, listed them around 34-35k last summer, and they’ve crept and crept, through 40k a couple of months ago and now they’ve got one at 45. We don’t know what they actually go for, but my understanding of Cridfords is that their pricing is generally fairly firm, with wiggle-room to make deals with warranties/ceramic coatings etc..
Unless you don’t like the spec, I wouldn’t wait around, personally. Let’s say the OP’s example car was 53k new, 13k is still 13k in prior depreciation. If prices drop a bit (and my bet is that it’ll only be a bit) over the next year or so, then new ones will drop more. If it’s got a warranty then risk is removed.
Get it, enjoy the summer with it. You won’t regret it for a moment.
Prices for fun cars on the used market have risen notably over the last 8 months and are firming up strongly for a post-lockdown summer, it would seem.
I began my 981CS search last summer and Cridfords, as a well-know example, listed them around 34-35k last summer, and they’ve crept and crept, through 40k a couple of months ago and now they’ve got one at 45. We don’t know what they actually go for, but my understanding of Cridfords is that their pricing is generally fairly firm, with wiggle-room to make deals with warranties/ceramic coatings etc..
Unless you don’t like the spec, I wouldn’t wait around, personally. Let’s say the OP’s example car was 53k new, 13k is still 13k in prior depreciation. If prices drop a bit (and my bet is that it’ll only be a bit) over the next year or so, then new ones will drop more. If it’s got a warranty then risk is removed.
Get it, enjoy the summer with it. You won’t regret it for a moment.
Thanks to all for the suggestions. I am prepared to trade the risk of some extra depreciation for the sake of having something I want this summer. I am off to see the OPC next week as they have an S which has just come into stock.
Used car prices are very firm across the board. 2 year old Golf R cars within the dealer network are still up for £31k, even though the new model can be had for £37k.
Supply is very tight.
Used car prices are very firm across the board. 2 year old Golf R cars within the dealer network are still up for £31k, even though the new model can be had for £37k.
Supply is very tight.
Gassing Station | Boxster/Cayman | Top of Page | What's New | My Stuff